The Business Of Bud: Big Things Are Happening In Medical Marijuana In Florida

Written by on 05.30.17 in Investment Trends, Retail - No comments

Big things are happening in medical marijuana in Florida, despite the Florida Legislature‘s failure to pass a bill implementing the constitutional amendment that 71 percent of voters approved last November.

On that front, we’ve now heard calls for a special session from gubernatorial candidates in both parties, House Speaker Richard Corcoran, R-Land O’Lakes and a laundry list of state senators and representatives. But there’s two men that can actually get it done. Gov. Rick Scott can call a special session, or Senate President Joe Negron, R-Stuart, can in conjunction with Corcoran. And since Corcoran‘s already said he’s for it, we’re just waiting for Negron.

Meanwhile, the seven licensed growers in the state will become nine after a ruling by an administrative law judge, the News Service of Florida’s Dara Kam reports.

In a separate story, Kam notes that one of the seven growers, Chestnut Hill Tree Farm, has contracted out management of its marijuana operations to a company controlled by the Canadian cannabis cultivating company Aphria. The company will be sinking some $20 million into Florida in the next year to build up infrastructure.

And that’s $80 million less than John Morgan wants to spend. The financial backer of the constitutional amendment that started this whole ball rolling told the Miami Herald’s David Smiley earlier this week that he was prepared to drop up to $100 million in the medical marijuana market if he sees “the right opportunities.”

 

Source: SunSentinel

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